Short Interest in Aurora Innovation, Inc. (NASDAQ:AUR) Declines By 6.4%

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 83,910,000 shares, a drop of 6.4% from the October 15th total of 89,600,000 shares. Based on an average daily volume of 8,710,000 shares, the short-interest ratio is currently 9.6 days. Approximately 8.9% of the shares of the stock are short sold.

Insider Transactions at Aurora Innovation

In other Aurora Innovation news, Director Reid Hoffman sold 3,500,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $5.58, for a total transaction of $19,530,000.00. Following the transaction, the director now owns 382,425 shares of the company's stock, valued at $2,133,931.50. This represents a 90.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 8,746,667 shares of company stock valued at $48,243,337 in the last ninety days. Corporate insiders own 13.83% of the company's stock.

Institutional Investors Weigh In On Aurora Innovation

Institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new stake in shares of Aurora Innovation during the 2nd quarter valued at about $30,000. Profund Advisors LLC bought a new position in shares of Aurora Innovation in the 2nd quarter valued at approximately $46,000. Empowered Funds LLC lifted its stake in shares of Aurora Innovation by 44.1% in the first quarter. Empowered Funds LLC now owns 17,597 shares of the company's stock worth $50,000 after buying an additional 5,386 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Aurora Innovation during the 2nd quarter worth $51,000. Finally, Diversified Portfolios Inc. acquired a new position in Aurora Innovation in the 2nd quarter valued at $54,000. Institutional investors and hedge funds own 44.71% of the company's stock.

Aurora Innovation Trading Up 23.2 %

Shares of AUR traded up $1.16 during midday trading on Monday, hitting $6.15. The stock had a trading volume of 23,826,399 shares, compared to its average volume of 8,897,766. The business has a 50-day simple moving average of $5.58 and a two-hundred day simple moving average of $4.10. Aurora Innovation has a fifty-two week low of $2.06 and a fifty-two week high of $7.01. The firm has a market cap of $10.57 billion, a P/E ratio of -12.55 and a beta of 2.82.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AUR. TD Cowen raised their target price on shares of Aurora Innovation from $3.00 to $4.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. Evercore ISI increased their price target on shares of Aurora Innovation from $3.00 to $5.00 and gave the stock an "in-line" rating in a research report on Monday, October 14th. The Goldman Sachs Group lifted their price objective on shares of Aurora Innovation from $2.00 to $2.50 and gave the stock a "sell" rating in a report on Monday, November 4th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $7.00 target price on shares of Aurora Innovation in a report on Monday, September 30th.

About Aurora Innovation

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.